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Plastic Money

Plastic Money

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Published by gkmrmanish

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Published by: gkmrmanish on Dec 01, 2010
Copyright:Attribution Non-commercial


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Plastic money is here, there & everywhere:
The concept of ‘Buy Now, Pay Later’ dates back the to late 1960s & 70s with theintroduction of plastic money in the western nations. It originated because the peoplewanted a convenient and rapid means of accessing their bank accounts. Also, theexorbitant price of money changing hands between the consumer, merchants and thebanks led to the diffusion of this concept in the banking system.For spendthrifts and habitual borrowers plastic money induces spontaneous and on-the-spur spending. But its advantages in terms of convenience, flexibility and safety far outweigh its pitfalls. Provision for easy repayment gives the card the liquidity of cashalong with the accountability of credit card.In the past 20 years these cards have proliferated the world market so successfully thatthey have altered the face of retail banking. With the power of plastic ruling the world,India cannot remain behind. With a slow and steady move towards scrip less trading thecountry is moving towards cashless transactions.The plastic money market is bubbling with activity with both Indian and foreign banksvying to expand their market presence. While the foreign banks have been hogging thelimelight Indian banks are the slumbering giants. The latter have the advantage of a
large  customer  base,  branch  network  along  with  low  service  charges.  Theseadvantages need to be tapped to realize the full potential of these banks.
he main purpose to serve on this topic under the Dissertation is to discover theaccurate dimensions of the Plastic Money.As every project has its own specific purpose, my project is to: -1) Find out that how the credit card may help in the development of an economy likeours a developing economy.2) Find out what is required to do for a credit card market and to establish credit card asa special security tool.3) Find out the reasons of fear in the mind of the customers during the acceptance of the credit cards.4) To understand the toughness of the credit card market due to emerging competition.5) To know the credit cards procedure, documentation and the growth of credit cards inIndian context.6) To know the credit cards division of the Banking Industry very closely.7) To understand the impact of credit cards in the purchasing power of consumers.8) To determine whether consumers are aware of credit card and its advantages.9) To determine the consumers acceptability and likeness towards credit card.10)  To find out the features, which attract consumers towards credit cards and theparameters, they use to compare the credit cards.

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